Fidelity & Guaranty Posts 4Q Profit

The Des Moines, Iowa-based company said it had net income of 52 cents per share. Earnings, adjusted for non-recurring costs, came to 69 cents per share.

The life insurance company posted revenue of $316 million in the period.

For the year, the company reported profit of $97 million, or $1.66 per share. Revenue was reported as $1.14 billion.

Fidelity & Guaranty shares have dropped roughly 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.65, a decrease of almost 8 percent in the last 12 months.